Page 24 - LUA September - October 2024

NEWS

Kenyan court temporarily blocks

Adani’s proposal to lease JKIA

enya’s High Court has temporarily The Law Society of Kenya and the upgrades independently. The deal
Kblocked a proposed 30-year lease Kenya Human Rights Commission aimed to modernise JKIA, including
deal for Jomo Kenyatta International argue that the lease is too costly and constructing a new runway, but
Airport (JKIA) between the Kenya poses risks to jobs and fiscal stability. faces scrutiny amid ongoing protests
Airports Authority (KAA) and They believe Kenya can fund the and calls for transparency in the
Indian conglomerate Adani Group. $1.85 billion required for airport investment process.

Transnet gets R5 billion DBSA approves $200

NDB loan to modernise million for the Lobito
corridor railway project

rail freight sector T(DBSA) has approved $200 million in
he Development Bank of Southern Africa

funding for Angola's $786.4 million Lobito
corridor railway project. The project will create
a 1,289 km railway link from Lobito Port to
the DRC border, boosting regional trade and
transportation. It aims to facilitate the export of
minerals like copper and cobalt from the DRC
to global markets. The project will also support
economic growth, job creation, and regional
cooperation while contributing to the energy
transition by enabling the export of minerals for
renewable technologies.

he New Development Bank reliability. The loan, announced
T(NDB) has awarded a R5 billion during NDB’s annual meeting,
($280 million) loan to Transnet for reflects the bank’s commitment
modernising South Africa’s freight to sustainable development
rail sector. This investment will and economic growth. NDB,
support rail network infrastructure established by BRICS nations,
renewal, locomotive overhauls, now includes additional member
and wagon fleet upgrades, aiming countries such as Bangladesh
to boost operational efficiency and and Egypt.

22 LUA SEPTEMBER - OCTOBER 2024